S&P 500 Breadth Improves as 61% of Stocks Top 50-Day Average

The share of S&P 500 stocks trading above their 50-day moving average reached 61% on Friday, Oct. 23, its highest reading since mid-August. The measure rose 5 percentage points and was more than twice its level at the Oct. 1 intraday low. The share above the 200-day moving average increased 3 percentage points to 57%, its highest since Sept. 9. It has climbed 17 percentage points in three weeks, while the S&P 500 remained nearly flat over that span. The improvement in breadth ranked among the three largest of the past three years.

Source: TokenPost